The volatility of Bitcoin (BTC) cryptocurrency rate keeps falling, and the bulls fail to break the resistance zone of $ 19,400. Therefore, BTC/USD should fall in price to $ 18,000 by December 15.
On December 5, the value of Bitcoin dropped to $ 18,500 (on the Bitstamp exchange). Then the cryptocurrency began to be bought back, and on Monday the rate of the coin rose to $ 19,430. Nevertheless, the bulls could not keep the price of the asset at this level, and the coin fell again to $ 18,900. On Tuesday, there was a correction to $ 19,200.
In December, the BTC rate fluctuates within a contracting triangle. The lines of the figure will cross on December 10th. With a high degree of probability, the triangle will be broken down. In this case, Bitcoin will fall in price to at least $ 18,500. If this support barrier is overcome, the asset price will drop to $ 18,000.
Flat in the BTC market is due to the high activity of buyers at $ 18,600 and sellers in the $ 19,400 zone. According to many analysts, Bitcoin is at the stage of consolidation, and the rate correction above $ 19,000 is a positive indicator. But an upward movement may occur if BTC breaks above $ 19,400. Otherwise, the price will go down.
BTC started pumping in March, so the upward trend has already been delayed. Financier Raul Pal said that the technical indicator DeMarker signals a drop in the price of the coin due to a significant decrease in demand for the cryptocurrency. According to the instrument’s performance, the risk of a decline in asset value persists as long as BTC trades in a range below $ 19,700.
On December 2, 10 technical indicators indicated bearish divergence. This fact signals an imminent full-fledged dump, as a result of which the Bitcoin price will drop to at least $ 10,000. The RSI index indicates a strong overbought BTC. A similar situation occurred before the dump at the beginning of 2018, when the coin fell by 70%. Judging by the timeframes, the value of Bitcoin will go down in December.
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